“People who don’t follow China on a regular basis can miss some of the underlying drivers,” says Kroeber, who runs the consulting firm Dragonomics.
Kroeber spells out three of those fundamentals.
- Because of China’s one-child policy, famlies have more to spend than families elsewhere who have to raise more children.
- New technology is offering a huge boom.
- Urbanization, 15 million people moving to cities each year, is an enormous boom for investments in infrastructure as roads, bridges and hospitals.